KKR Completes Acquisition of MYOB

SYDNEY–(BUSINESS WIRE)–Global investment firm KKR and leading Australian online business
management company MYOB Group Limited (“MYOB” or the “Company”) today
announced the completion of the previously announced acquisition of MYOB
by KKR.

David Lang, Member at KKR, said, “MYOB is a true leader in the growing
and innovative business solutions software segment. We are excited to
partner with and support MYOB as it accelerates the company’s growth
plans in Australia and New Zealand while also exploring the significant
opportunities it has to offer its customers new products and solutions.”

Tim Reed, CEO of MYOB, said, “The past year has been an eventful one for
MYOB in which we accelerated our investment in the MYOB Platform and
fast-tracked its delivery to our customers. This rollout helped us to
achieve even greater online subscriber growth and propelled us to a
leading position in Australia and New Zealand’s online accounting
market. Now with KKR’s support and expertise, we are even better
positioned for future growth. I am confident the business will continue
to thrive well into the future, and am excited to embark on MYOB’s next
chapter.”

MYOB entered into a Scheme Implementation Agreement with KKR on December
23, 2018, under which KKR proposed to acquire all the MYOB shares it did
not already own. MYOB shareholders voted in favour of the Scheme on
April 17, 2019, and implementation took effect today.

KKR’s investment in MYOB was made from its flagship Asian Fund III.

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About MYOB

MYOB Group Ltd is a leading provider of online business management
solutions. It makes business life easier for approximately 1.2 million
businesses and accountants across Australia and New Zealand by
simplifying accounting, payroll, tax, practice management, CRM, job
costing, inventory and more. MYOB operates across three core segments –
Clients and Partners (business solutions to SMEs and Advisers);
Enterprise Solutions (larger businesses) and Payment Solutions. It
provides ongoing support through client service channels including a
network of over 40,000 accountants, bookkeepers and other consultants.
It is committed to ongoing innovation, particularly through its
Connected Practice Strategy and through the development of the MYOB
Platform. For more information, visit http://investors.myob.com.au/Investors
or follow @MYOB on Twitter.

About KKR

KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate and credit, with strategic partners that
manage hedge funds. KKR aims to generate attractive investment returns
for its fund investors by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation with KKR portfolio companies. KKR invests its own capital
alongside the capital it manages for fund investors and provides
financing solutions and investment opportunities through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. Inc (NYSE:KKR), please visit KKR’s website at www.kkr.com and
on Twitter @KKR_Co.

Contacts

Media:
For KKR
KKR Asia
Anita Davis
+852
3602-7335
Anita.Davis@KKR.com

KKR
Americas
Kristi Huller / Cara Major
+1 212-750-8300
Media@KKR.com

Newgate
Communications (For KKR Australia)
Miche Paterson
+61 400 353
762
miche.paterson@newgatecomms.com.au